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An anti-government sign with an illustration of Turkish Prime Minister Recep Tayyip Erdoğan is placed by activists for women’s rights against riot police during a protest in Istanbul on January 5, 2014. (Reuters/Murad Sezer)
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A man checks currency rates at a currency exchange office decorated with a Christmas tree and fake dollar and Euro banknotes on it, in central Istanbul January 2, 2014 (REUTERS/Murad Sezer)
Lira oversold as Turkish graft probe spurs drop
Istanbul, Bloomberg—The Turkish lira is poised to rebound after a corruption scandal engulfing Prime Minister Recep Tayyip Erdoğan’s government pushed the currency to its most oversold level in a decade. The lira’s 14-day relative-strength index (RSI)...Caption:
File photo of Turkish lira banknotes. (Reuters/Murad Sezer)
Graft scandal exposes Turkish economic vulnerability
Ankara, AP— For the last decade, an idea has prevailed that Turkey might provide a model for modernizing Muslim countries, combining Islam, democracy and market economics. By 2012 the country’s economy had grown 64 percent from 10 years previous, making it the 15th...Caption:
A handout picture provided by the Turkish Presidental Press office shows President Abdullah Gul, center, Turkish Prime Minister Recep Tayyip Erdogan, Center-left, and new cabinet ministers during a Turkish National Security Council meeting in Ankara, Turkey, 26 December 2013. Opposition members criticized the appointments, accusing Prime Minister Erdoğan of trying to rule via a secretive “deep state.” (EPA/Presidential Press Office)
Opposition slams Erdoğan cabinet reshuffle
Istanbul, Reuters—Turkey’s opposition accused Prime Minister Recep Tayyip Erdoğan on Thursday of trying to rule via a secretive “deep state” after a cabinet reshuffle that would tighten controls on police already beleaguered by government-ordered...Caption:
A plainclothes police officer reacts as riot police stand guard in front of the courthouse in Istanbul December 20, 2013. Turkish police arrested eight people in connection with allegations of official corruption and bribery, a newspaper said on Friday, in an investigation Prime Minister Tayyip Erdogan has called a “dirty operation” aimed at undermining his rule. REUTERS/Osman Orsal (TURKEY – Tags: POLITICS CRIME LAW)